FOR SALE - LoopNetimages3.loopnet.com/d2/H31AObcOrgUG9361KdH...FOR SALE 3853 CR 621 Bushnell, FL...
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FOR SALE 3853 CR 621 Bushnell, FL Located in Sumter County, FL Asking price of $1,599,000 222 +/- acres Six residences—one conventional built home and five mobile homes Five Billboards and Cell Tower - all currently leased Improved pasture being utilized for cattle grazing Century 21 Prime Property Resources, Inc Kelly Rice, Broker 1034 W. C-48 Bushnell, FL 33513 Phone: 352-793-6911 Fax: 352-793-8701 E-mail: [email protected]
Transcript of FOR SALE - LoopNetimages3.loopnet.com/d2/H31AObcOrgUG9361KdH...FOR SALE 3853 CR 621 Bushnell, FL...
FOR SALE
3853 CR 621
Bushnell, FL
Located in Sumter County, FL
Asking price of $1,599,000
222 +/- acres
Six residences—one conventional built home
and five mobile homes
Five Billboards and Cell Tower - all currently
leased
Improved pasture being utilized for cattle
grazing
Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513 Phone: 352-793-6911 Fax: 352-793-8701
E-mail: [email protected]
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PROPERTY DESCRIPTION
This property contains approximately 222 acres. Included are six residences: one conventional built home and five mobile homes. The property includes
five billboards (all currently leased) and a cell tower. The land is
predominantly improved pasture and the owner utilizes the property for
cattle grazing. Property includes multiple ponds and has an abundance of wildlife, including deer and turkey.
The passive income associated with this property is significant. The owner currently rents the single family home and two of the mobile homes for a combined $24,600/year (potential gross income). The other three mobile
homes are dilapidated and in need of removal; however, it is our
understanding, per Sumter County, that the mobile homes are permitted via a vested right, and in the event a mobile home is removed and not replaced within one year, then the vested right will terminate. The rental associated with the five billboards is approximately $4,500/year, and the owner has
recently renegotiated the cell tower lease with a corresponding annual rent of $18,000. The cell tower lease will continue through 2042 and the rent
will escalate 15% every five years with the next renewal set to occur
sometime in 2017.
Phone: 352-793-6911 Fax: 352-793-8701 E-mail: [email protected]
Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
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FOR DISCUSSION PURPOSES ONLY
2017
C & D Cattle Enterprises, LLC
Discussion of rental income re: Sumter 222+/- acre ranch:
Annual Estimated Income
Cell Tower $ 18,000.00 Bill Boards:
CBS (2) $ 2,000.00
Lamar (1) $ 600.00
Fairways $ 1,800.00
Estimated Cell Tower and Billboard annual rents $ 22,400.00
Seller Leaseback (at Buyer’s option) of pasture (Ag Lease) $ 15,000.00
Residential Units (Green House, DWMH and one SWMH):
Residential Proforma (estimation for discussion purposes)
Current Monthly Rental
Green House 800.00
DWMH 750.00
SWMH 500.00
Total Monthly 2,050.00
Annualized Residential Rental Income $ 24,600.00
Total Gross Income (with Seller Ag leaseback) $ 62,000.00
Parties have agreed to amend the Cell Tower lease which will incorporate the rental increase totaling $18,000 annually. Escalator of 15% beginning 2018.
DISCLAIMER: Broker is involved in this transaction as a real estate broker licensed under Chap 475, Fla. Stat. Broker may provide in-formation and details related to this transaction within the general knowledge and experience of Broker as to real estate and related mat-ters such as financing and investing in real estate. Broker does not make any representation or warranty as to the accuracy, soundness or completeness of any information and details provided by him. All parties are advised to seek independent financial, legal and other pro-fessional advice to assist them in evaluating the transaction and to perform such due diligence, inspections and evaluations regarding the transaction as they deem advisable.
Phone: 352-793-6911 Fax: 352-793-8701
E-mail: [email protected]
Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
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Property Photos
Phone: 352-793-6911 Fax: 352-793-8701
E-mail: [email protected]
Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
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Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
Phone: 352-793-6911 Fax: 352-793-8701 E-mail: [email protected]
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AERIAL MAP
Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
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Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
DEMOGRAPHICS FOR SUMTER COUNTY, FL
Population —118,891
Population per Square Mile—170.8
Households —45,868
Owner Occupied Housing Unit Rate—90.3 %
Total Employer Establishments - 1,319
Median Household Income - $49,874
TRAFFIC COUNT FOR W. C-476
Per Lake-Sumter MPO—364
Phone: 352-793-6911 Fax: 352-793-8701
E-mail: [email protected]
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Century 21 Prime Property Resources, Inc Kelly Rice, Broker
1034 W. C-48 Bushnell, FL 33513
MLS INFORMATION
Phone: 352-793-6911 Fax: 352-793-8701 E-mail: [email protected]
